Quest Partners LLC cut its holdings in shares of Unum Group (NYSE:UNM - Free Report) by 24.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,467 shares of the financial services provider's stock after selling 13,253 shares during the period. Quest Partners LLC's holdings in Unum Group were worth $2,465,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Quadrature Capital Ltd acquired a new position in Unum Group during the first quarter worth $1,130,000. Tidal Investments LLC increased its position in shares of Unum Group by 80.7% in the first quarter. Tidal Investments LLC now owns 64,008 shares of the financial services provider's stock valued at $3,436,000 after acquiring an additional 28,580 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in Unum Group by 8.0% during the second quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider's stock worth $44,609,000 after acquiring an additional 64,661 shares in the last quarter. Cetera Advisors LLC acquired a new position in Unum Group during the first quarter valued at approximately $703,000. Finally, Van ECK Associates Corp acquired a new position in shares of Unum Group during the 2nd quarter worth approximately $3,945,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.
Unum Group Price Performance
Shares of NYSE:UNM traded down $0.42 during trading on Monday, reaching $72.77. 598,795 shares of the company traded hands, compared to its average volume of 1,247,846. The firm has a market capitalization of $13.29 billion, a PE ratio of 7.96, a PEG ratio of 1.07 and a beta of 0.76. Unum Group has a 52 week low of $41.97 and a 52 week high of $73.62. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The company's 50 day moving average is $61.92 and its two-hundred day moving average is $55.95.
Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.10 by $0.03. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the business posted $1.94 EPS. The company's revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that Unum Group will post 8.53 earnings per share for the current year.
Unum Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Friday, October 25th. Unum Group's dividend payout ratio is presently 18.18%.
Unum Group announced that its Board of Directors has approved a stock repurchase program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 10% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on UNM shares. Wells Fargo & Company increased their price objective on Unum Group from $69.00 to $71.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Citigroup lifted their price objective on shares of Unum Group from $62.00 to $69.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Truist Financial upped their target price on shares of Unum Group from $70.00 to $75.00 and gave the company a "buy" rating in a report on Friday, November 1st. Bank of America boosted their target price on Unum Group from $54.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Finally, Evercore ISI raised Unum Group from an "in-line" rating to an "outperform" rating and raised their price target for the company from $67.00 to $84.00 in a report on Thursday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Unum Group currently has an average rating of "Moderate Buy" and a consensus price target of $67.73.
Read Our Latest Stock Report on UNM
Insider Buying and Selling at Unum Group
In related news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the sale, the chief executive officer now owns 1,065,868 shares of the company's stock, valued at approximately $58,601,422.64. This trade represents a 5.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth Claire Ahmed sold 5,000 shares of the business's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $64.16, for a total transaction of $320,800.00. Following the sale, the executive vice president now directly owns 58,741 shares of the company's stock, valued at approximately $3,768,822.56. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,844 shares of company stock valued at $5,411,032. 0.93% of the stock is currently owned by company insiders.
Unum Group Profile
(
Free Report)
Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. The company offers group long-term and short-term disability, group life, and accidental death and dismemberment products; supplemental and voluntary products, such as individual disability, voluntary benefits, and dental and vision products; and accident, sickness, disability, life, and cancer and critical illness products.
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